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Chapter 1:
Introduction to Statistics and Data Collection
What is Statistics?
•A
branch of mathematics taking and transforming numbers in to useful
information for decision makers
•Methods
for processing and analyzing numbers
•Methods
for helping reduce the uncertainty in decision making
What can statistics apply to?
•Business research
•Technical reports
•News articles
•Magazine articles
Why study Statistics?
•Present and describe data and information
properly
•Draw conclusion about large groups of
individuals, or items by using information from samples.
•Make reliable forecasts about a business
activity
•Improve business processes |